It's Not Too Late to take advantage of the
|
Restrictions
Purchaser (and purchaser’s spouse) may not have owned a principal residence in 3 years previous to purchase.
Income Phase out
-Single – AGI between $125,000
-Joint – AGI between $225,000
Must be principal residence - owner occupied, single family home.
-can be condos, townhomes.
Non Qualifying purchases – from related parties or from an estate of a relative, or inherited property.
How Do I claim the credit?
- Form 5405 on 1040 income tax return
--Modify W-4 withholdings to take advantage of more take home pay.
For more information, go to:
